New Delhi: India's gross goods and service tax or GST mopup surged by 8.5 per cent to over Rs 1.82 lakh crore in November on year-on-year basis as compared to Rs 1.68 lakh crore in the same month last year. The reason for the significant rise is due to higher revenues from domestic transactions, highlighting robust economic activity and improved tax compliance, the government said on Sunday.
As per the data released by the finance ministry, the total gross GST revenue grew 8.5 per cent to over Rs 1.82 lakh crore in November as compared to Rs 1.68 lakh crore in the same month a year ago. "The Central GST collection stood at Rs 34,141 crore, state GST at Rs 43,047 crore, integrated IGST at Rs 91,828 crore and cess at Rs 13,253 crore," the data showed.
In October, the data showed, the gross GST collection rose 9 per cent to over Rs 1.87 lakh crore, the second-highest ever, on pick-up in domestic sales and improved compliance. "The central GST collection in October was at Rs 33,821 crore, state GST at Rs 41,864 crore, integrated IGST at Rs 99,111 crore and cess at Rs 12,550 crore during the month. For the period of April-November, the collections are at Rs 14.57 lakh crore," the data showed.
During the month under review, the GST from domestic transactions grew 9.4 per cent to Rs 1.40 lakh crore, while revenues from tax on imports rose about 6 per cent to Rs 42,591 crore. "Refunds worth Rs 19,259 crore were issued during the month, registering an 8.9 per cent decline over the year-ago period.
